The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-01-20
THE SAVINGS BANK
THAT WILL ne STARTED nEnE,
Provided Necessary Lsglslntlon Can bs Had
An Interview With Ono Of this Mem.
bcrA Of tho Proposed Scheme.
a Very BsHeHcinl Move. a..

The announcement has already been
made Of the fact that a number Of promi-
nent gentlemen OF this city are interested
and moving in the matter OF the estab.
liehment here Of q non.capital savings in.
sii.nlion or bank.
In other States these Institutions have
been great successes and have been In
portant factors In tho increase OF the
wealth Of tho individual, the community
and State wherever established.
4 gentleman talking about tho good
that would be surs to result from the
establishment OF ouch an institution here
said: "The wealth Of any community, or
State, 10 but tho aggregate Of the wealth OIL
lis members; other States have long since
recngniz ID the wisdom aud advantages oil
facilitating by proper legislation, the
accumulation Of individual aavipgs in say,
ing banks CT the kind that Is con.
templased around which the
sale guard Of special laws Is
thrown, and the supervision o!
proper legal authority Ia given to the na
ture aud safely OF Ito Investments, and
the character and ftuess Of those who con,
troll and diaposo Of its funds; and tho on
tire profits OF which, arc divided among
the depositors without paying the tribute
Of 1iyidendB to capital stock.
"fhe unrestricted range OF Investment,
tho necessity Tor larger profits In order te
remunerat0 both stockholders and depos
itors and the impulse 10 create. risf or
tho par. Of investors that is usually seen tC
follow, Is bound to datract from tue conf
dehee IL capitalized concern ior ssyings
"In o report Of the Comptroller OF ,he
Currency made in November 1882, the las
year that he had DATA for such a state
ment are some tlgu,cs that illustrate bet
tsr,the point | am trying to chow you. LII
reported that thore was on deposit ia sav.
inga banks With capital, So, 800 DN0, while
in those institutions with no capital there
WIS the enormous sum Of 1850, 900, 0c0
The reporia Of fifteen States where thest
mont capital institutions ere found show
that in November, 1885. the deposi:o ii
suci banks as the one We want here
amounted 10 Sl,095,0N,000, and tina! III.
! LotetS ~ AcaeoA VI pun utauaSSuloAs hut
fSill,o during the preceding three
ysa1a amounted to almost nothing
fho'e 10 another point Of difference be
tween the Two kinda Of savings ins.itu
tioas that adds much to popularity Of thu
non.capitaf CONCERN and that is, that they
cannot infringe upon the business or i'm
pair the usefulness OF commercial banke
as their funds are made up entirely Of tn.
cash tho commercial concern canno
reach, and ore invested only in securities
to inconvenicnt for it; but tLcae non.cap
itat banks hGre proved themselves
efficient helpers to the comule.cisl banker
by adding their large srcumula,iong o
small deposits to the business capital o.
the community. E.
II may add that the indiroc. benefits
arising from ssvioga bank in q commun
ity arc about equal to the direct, and they
become OF no little Importance when theil
influence upon the young aud The working
class OF y city like this ia considered; il
edroatos tho1p in thrift, virtue akin to
industry, that lesaenl tho limit Of GU.
sum ptiou aud engages the excess 60 gain,
ed to the benefit Of both the Individual
and his sphere" ..,J
Il understand that you expect to BE- in.
co.pn!sted by the present LegislGture?'
"Ses, We expect that Vest Virginia
will bo added to tho number OF States
that have wisely avsiled themselves ofthe
neutrality-suspicious. and public, o! thees
large Accommodations OF small individual
sayiDGs, AID HAYS aided them by the es
enlistment OF a sysIem Of banks in which
the smallest leposits are admitted and
accounted for, not only to tho benefit o.
the dsposltor, but ultimately to the com.
munity." 4.